COVID-19 second phase is still an evolving situation in India and its impact on the economy will depend on how long it lasts. But to some extent, it will hamper the recovery that was taking place in the Indian economy, Shailendra Kumar of Narnolia Financial Advisors said in an interview with Moneycontrol's Sunil Shankar Matkar.
He feels pharma and IT would continue performing better this year too but autos may struggle. Pharma and IT are the structural stories for India, he believes.
The Chief Investment Officer at Narnolia Financial Advisors said the current estimate for Nifty FY22 is around 720 and this may see a 5-7 percent cut.